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The Four Fiscal obligations for US Citizens living in Spain.
As U.S. Person (U.S. Citizens, Green Card Holders and Resident Aliens) living in Spain you have four different fiscal obligations: you are required to file a U.S. Individual Tax Return every year, wherever in the world they live, reporting your worldwide income,...
IRS confirms that original tax returns filed in 2021 will be completed this week
After last month promise of the IRS Commissioner, Charles Retting, to process millions of unprocessed returns before December, now after intensive work during the past several months, the Internal Revenue Service announced today that processing on a key group of...
$100 Discount on your next Tax Return
WOULD YOU LIKE A $100 DISCOUNT ON YOUR NEXT TAX RETURN? IT'S EASY Help a non-filer retrieve the 2019 and 2020 Stimulus Checks with streamline If you know a U.S. citizen who has not filed taxes in these years-- or other years-- tell them that they can claim stimulus...
When is the due date to file my Individual Tax Return, Form 1040, and Pay taxes?
The regular due date to file is April 15th of the following year. If April 15th falls on a Saturday, Sunday, or legal holiday, your tax return is considered timely filed if it is filed by the next business day that isn't a Saturday, Sunday, or legal holiday. For 2021...
IRS commissioner promises to process millions of unprocessed returns before December 2022
The Internal Revenue Service computer systems are more than 50 years old, and you should not expect miracles. Taxes are going unpaid because returns aren’t being processed. Phone calls go unanswered, and correspondence takes almost a year to process. The caseload of...
Need-To-Know Seminars 2022
Following our previous post from January with the basic information of the NTK Seminars that we will held in March and April, her you will find a general description of the contents and final dates and locations of the seminars. As usual they are all free and most of...
US Tax Consultants opens a new Tax Preparation Office at the Naval Station of Rota.
A big step for our company: the opening of a new office at the Naval Station of Rota. It is an honor and gives us great pride to be able to offer our professional services to all current and former members of the U.S. Armed Forces, their families and U.S. civilian...
Tax Season Has Arrived!
Tax season 2022 has arrived. The Internal Revenue Service has started accepting and processing 2021 tax returns Monday, January 24th, 17 days earlier than last tax season’s late start of February 12th. This year, 2021 federal income tax returns are due April 18th for...
Is it the end of the 720?
The Court of Justice of the EU has published a judgment, on January 27, 2022, by which it declares contrary to Union Law the Spanish tax regulations that oblige tax residents in Spain to declare their assets or rights located abroad, in “Modelo 720”. Ruling by the...
Modelo 720 2022 ES
Modelo 720 2022 EN
Need-To-Know Seminars 2022
As have done in the past, we plan to have again a new round of Need-To-Know Seminars or information sessions on the “Fiscal Obligations of US Expats living in Spain.” We have been postponing them because of the COVID restrictions and finally we expect to have them...
Happy New Year 2022!
Reminders before 2022 Tax season
Steps to Take Now to Get a Jump on Your Taxes Tax planning is for everyone. Get ready today to file your 2021 federal income tax return. Planning ahead can help you file an accurate return and avoid processing delays that can slow your tax refund. Try to view your...
2022 tax filing season begins after January 31. Tax Refund should be expected in two or three weeks.
Although the last two tax filing seasons were significantly impacted by the Covid-19 pandemic, and the IRS extended both deadlines, the IRS is not expected to extend the tax filing deadline for 2022. Covid-19 will still be a concern, several stimulus tax laws will...
U.S. Tax implications on donations to a Non-Resident-Alien Spouse
Gift Tax might be an important part of a long-term estate planning strategy for many American families, whether they live abroad or not. Here we are only considering the U.S. Tax implications of a donations to a Non-Resident-Alien Spouse. Please, keep in mind that not...
How are cryptocurrencies taxed in Spain and the U.S.?
Remember that if you are a U.S. Person (US Citizens & Green Card Holders) tax resident in Spain, due to the bilateral treaty to avoid double taxation, you must pay taxes in Spain, but that does not exempt you from the obligation to also report it in US Individual...
Modelo 720 and Cryptocurrencies
The Spanish Tax Agency published, last month of July, a new Law to Prevent Fraud, specifically referred to the Cryptocurrencies world. They were supposed to develop the ruling before the end of December and since they do noy have enough time to do it, they have...
Some important things all taxpayers should do before the tax year ends
Some important things all taxpayers should do before the tax year ends The IRS reminds taxpayers there are things they should do before the current tax year ends on Dec.31. Donate to charity Taxpayers may be able to deduct donations to tax-exempt organizations on...
Special IRS Streamlined Procedure / amnesty promotion for non-filers and for clients who refer them: Discount vouchers of €200 and €100
En español a continuación Why are we campaigning to regularize your situation with the IRS as non-filer? In U.S. Tax Consultants have a history of more than 56 years helping expats with their taxes. But in recent years we have found that there are many expats who...
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